Exports to US up nearly 15%

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• Export

Vietnam exports to the US increased by nearly 15% to US$38.5 billion last year while imports rose by 11.7% to US$8.7 billion, according to statistics of Vietnam Customs

Thus, Vietnam still enjoyed a trade surplus with the US – its second largest trade partner after China.

The US is also the top importer of many Vietnamese key products. Garment ranked first with an export value of US$11.5 billion, accounting for nearly 30% of total exports to the US and 48% of Vietnam’s total garment exports in 2016.

Footwear came second with US$4.5 billion, making up 11.7%. Telephones and components went third with US$4.3 billion, accounting for 12.5%.

The US has overcome the UAE to become the biggest importer of Vietnam telephones and components.

Other products having an export value of more than US$1 billion included computers, electronics and components (US$2.9 billion), wood and timber products (US$2.8 billion), machines, equipment and tools (US$2.1 billion), seafood (US$1.4 billion), bags, wallets, suitcases, hats and umbrellas (US$1.3 billion).

In general, most export products to the US obtained a growth. It’s noteworthy that steel grew 328% to US$568.5 million and film cameras skyrocketed more than 200%.

Source: VOV